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THE NEXT FARM BUST IS COMING

The Farm Belt is hurtling toward a milestone: Soon there will be fewer than 2 million farms in America. A shrinking role in global grain markets coupled with a strong dollar and higher costs for seeds is driving U.S. farmers out of business. The U.S. share of the global grain market is less than half what it was in the 1970s. American farmers’ incomes will drop 9% in 2017, the Agriculture Department estimates, extending the steepest slide since the Great Depression into a fourth year. (Wall Street Journal)

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